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Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

mattstoller.substack.com

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Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#371

Post by cycomanic »

mlindner wrote: post #328
wvenable wrote: post #313

Earlier quoted context omitted.

In 2018, the average insulin price in the US was $98.70, compared to $6.94 in Australia, $12.00 in Canada, and $7.52 in the UK. This is a 100 year old drug.

If it was actually 100 years old the patent would be expired. So you're actually seeing newer drugs that use the same name.

I encourage you to look up evergreening. Pharmaceuticals are playing every (legal and illegal) trick to extend patent protection. The purpose of the new formulations is often only to extend patent protection. Together with extensive advertisement campaigns to get doctors to use the new formula not all.

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#372

Post by nerfhammer »

diffeomorphism wrote: post #369
nerfhammer wrote: post #346

Earlier quoted context omitted.

According to one google search result total pharma ad spend was $6.58 billion in 2020. According to the CBO pharma R&D was $83 billion in 2019. References: https://www.fiercepharma.com/special-report/top-10-ad-spende... https://www.cbo.gov/publication/57126

You are off by a factor 10. The 1 billion is in total over all the time needed to produce the drug (about 10 years), while ads are per year.

ok, so 65 drugs in development, with 6.5 drugs released per year? does that seem plausible for the entire pharma industry?

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#373

Post by jjcon »

MichaelMoser123 wrote: post #370

here [1] they say that Kamala Harris is seen as a friend of big tech and silicon valley, that would imply she is a friend of big tech corporations. Does this step signify a rift between Biden and Harris, or is that not the case? [1] http://web.archive.org/web/20210206212101/https://www.nytime...

That’s possible but the article is a year old. This past year and a half I think if you polled the HN crowd you would even see a dramatic shift in perspective on proper policy for big tech antitrust legislation.

It is not unreasonable to assume those same realizations are happening or being expressed by government officials as well.

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#374

Post by jeeeb »

AnthonyMouse wrote: post #301
hyperhopper wrote: post #293

Earlier quoted context omitted.

There is also a third issue: The high cost of medicines that are low cost to produce, and are sold at low cost elsewhere

This one is particularly prickly because the high cost paid in the US funds medical R&D and extremely expensive clinical trials which other countries are free riding on by imposing price controls. We still need to fund the R&D and clinical trials (unless they could be made less expensive somehow), so the most obvious solution would be to have other countries pay their fair share so the US could stop subsidizing every…

I’ve seen this claim made a few times.

If this is true then surely it would be in the US’s interest to stop doing it! Stop us freeloaders from mooching off your drug development!

Personally I’m doubtful that this claim is broadly true though. I think it should at least be backed by some decent analysis.

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#375

Post by cycomanic »

benrbray wrote: post #355
R0b0t1 wrote: post #300

Earlier quoted context omitted.

People already die quietly alone all the time. How far do we need to go to have everyone have a babysitter, especially at their own expense?

I think the idea is that the doctor is actively intervening in your medical treatment, so they have a responsibility to make sure they're getting it right. This person is free to stop taking their meds and die alone whenever they like. Visits to the doctor should be cheaper and more efficient, but people shouldn't stop going to the doctor.

I find it fascinating that the HN crowd complains about doctors being too expensive. I mean what is the comparative value that software developers add to society compared to doctors that justify their salaries (which are often on the same level or higher)?

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#376

Post by [deleted] »

jjcon wrote: post #373
MichaelMoser123 wrote: post #370

here [1] they say that Kamala Harris is seen as a friend of big tech and silicon valley, that would imply she is a friend of big tech corporations. Does this step signify a rift between Biden and Harris, or is that not the case? [1] http://web.archive.org/web/20210206212101/https://www.nytime...

That’s possible but the article is a year old. This past year and a half I think if you polled the HN crowd you would even see a dramatic shift in perspective on proper policy for big tech antitrust legislation. It is not unreasonable to assume those same realizations are happening or being expressed by government officials as well.

[deleted]

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#377

Post by jpttsn »

diffeomorphism wrote: post #365
AnthonyMouse wrote: post #301

Earlier quoted context omitted.

This one is particularly prickly because the high cost paid in the US funds medical R&D and extremely expensive clinical trials which other countries are free riding on by imposing price controls. We still need to fund the R&D and clinical trials (unless they could be made less expensive somehow), so the most obvious solution would be to have other countries pay their fair share so the US could stop subsidizing every…

That is a common talking point, but I don't know of any data actually backing that up. It just sounds nice like "they hate freedom". No, nobody does, try again.

Would you know of the data if it existed? Absence of evidence is a low bar for disbelieving a proposition.

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#378

Post by anthony_barker »

AnthonyMouse wrote: post #301
hyperhopper wrote: post #293

Earlier quoted context omitted.

There is also a third issue: The high cost of medicines that are low cost to produce, and are sold at low cost elsewhere

This one is particularly prickly because the high cost paid in the US funds medical R&D and extremely expensive clinical trials which other countries are free riding on by imposing price controls. We still need to fund the R&D and clinical trials (unless they could be made less expensive somehow), so the most obvious solution would be to have other countries pay their fair share so the US could stop subsidizing every…

I would argue Big Pharma free rides its self on research from universities around the world which are mostly publicly funded and not for profit.

The US represents less than 34% of global research. https://pubmed.ncbi.nlm.nih.gov/17354441/

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#379

Post by voidfunc »

mlindner wrote: post #331
sb057 wrote: post #310

Earlier quoted context omitted.

I found this fact sheet more useful than the order itself or articles about it: https://www.whitehouse.gov/briefing-room/statements-releases... In the Order, the President: * Encourages the FTC to ban or limit non-compete agreements. * Encourages the FTC to ban unnecessary occupational licensing restrictions that impede economic mobility. * Encourages the FTC and DOJ to strengthen antitrust guidance to prevent employ…

All the good ideas are under the "Encourages" type of thing. How does this actually do anything?

It doesn't and it can all be undone by the next president unless Congress acts and makes some of these laws (they wont).

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#380

Post by fomine3 »

sb057 wrote: post #310
wormslayer666 wrote: post #122

Direct link to the executive order (it's in the article, but might as well put here): https://www.whitehouse.gov/briefing-room/presidential-action...

I found this fact sheet more useful than the order itself or articles about it: https://www.whitehouse.gov/briefing-room/statements-releases... In the Order, the President: * Encourages the FTC to ban or limit non-compete agreements. * Encourages the FTC to ban unnecessary occupational licensing restrictions that impede economic mobility. * Encourages the FTC and DOJ to strengthen antitrust guidance to prevent employ…

It seems to contain many HN topics
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